Posted 27 Dec 13 By: No comments yet

Albuquerque’s Shops on Menaul strip center sold

Shops on Menaul - Cole
Reporter- Albuquerque Business First | Dec 27, 2013, 9:50am MST

A 16,200-square-foot strip center at one of Albuquerque’s busiest intersections has been sold.

The Shops on Menaul, a nine-tenant retail center, was sold to Monarch Park LLC of California for an undisclosed amount. The property has previously been listed for about $2.5 million.

Tim House, managing director of Sperry Van Ness’ Team Southwest, represented Monarch Park. The seller — The Shops on Menaul LLC — was represented by Cole Flanagan and Michael Reneau of NAI Maestas and Ward.

The center is located at 5001-5023 Menaul Blvd. NE, one block west of San Mateo Boulevard. Tenants include Cricket Wireless, New Mexico Fireplace Gallery, American General Financial and Rent A Wheel. There are a few suites at the site that are available for lease.

House said Monarch Park was interested in the buy because of the center’s stable tenants and it’s high profile location. House said Sperry Van Ness’ Team Southwest will be the property manager going forward.

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Commercial/residential real estate, retail, restaurants

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